'..Another critical characteristic of the earlier inflation era was frequent temporary reversals in inflation, only to be followed by new peaks..'
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(Global Stagflation)(Inflation out of control) - Inflationary Psychology Has Set In. Dislodging It Won’t Be Easy.' “The real danger comes from [the Fed] encouraging or inadvertently tolerating rising inflation and its close cousin of extreme speculation and risk taking, in effect standing by while bubbles and excesses threaten financial markets,” Volcker later wrote in his memoir.
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..In a 2004 report, the Fed economist Edward Nelson wrote that the most likely cause of inflation during the ’70s was something he called “monetary policy neglect.” Basically, the Fed kept its foot on the money pedal through most of the decade because it didn’t understand that more money was creating more inflation. This kind of inflation is called “demand pull” inflation, meaning that the Fed stokes demand, which causes prices to increase.'
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[Thomas Hoenig] has a Dire Warning About Where We’re Headed - '..Household Expense Data .. for 80 Years''German inflation surges more than expected to 6.8%''..Germany’s 6.8 per cent rate for June .. The rise in German consumer prices, which will put upward pressure on eurozone inflation data due out on Friday, compared with 6.3 per cent the previous month and the 6.7 per cent forecast for June in a Reuters economists’ poll.
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The federal statistical office said services prices rose at a new record rate of 5.3 per cent in June, while energy inflation increased slightly to 3 per cent and food inflation slowed to 13.7 per cent.
German core inflation rose to 5.8 per cent, up from 5.4 per cent in May.
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..Spanish core inflation was 5.9 per cent in June, down only slightly from 6.1 per cent in May.
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In Italy, annual inflation in June was 6.7 per cent, down from 8 per cent in May. France will publish consumer price figures on Friday.'
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German inflation surges more than expected to 6.8%, June 29, 2023
Context (Stagflation) - '..[like] the 1970′s doggedly high inflation.'(Global Stagflation) - 'This situation has essentially morphed into a cost-of-living crisis..' - Dr. Hunt(Global Stagflation)('..loss of central bank credibility..') - New era of inflation will bedevil central banks and bond markets(Disaster)(Fed, ECB way behind the curve) - 'US Inflation Quickens to 9.1% .. relentless price pressures..' - 'Inflation at current levels is a severe economic, social, and political problem..', July, 2022
(Global Stagflation)(Inflation out of control) - 'Eurozone Inflation Soars To 9.1%' - 'Dutch inflation jumps to 13.6%', August, 2022
(Global Stagflation)(Inflation out of control) - Netherlands inflation rising again; 11.6 percent in July, July, 2022
(Stagflation)(Real price-inflation at 15%) - '..inflation spiraling completely out of control.', March, 2022
(Global Stagflation)(Inflation out of control) - US inflation at new 40-year high as price increases spread .. well beyond energy, June, 2022
(Global Stagflation) - 'Britain's main inflation rate has soared to 9.4% - and could hit 15% in early 2023..' - 'New all-time high [eurozone inflation] of 8.9%', August, 2022